Innovalift Acquires Türkiye Lift Component Manufacturer Arkel

Innovalift, a group of companies that designs, manufactures and installs vertical and inclined platform lifts, in July announced it signed an agreement to acquire 100% of the shares in Arkel, a leading manufacturer of elevator components based in Istanbul, Türkiye. Gothenburg, Sweden-headquartered Innovalift said the acquisition expands its geographical reach and complements its portfolio of elevator components. Founded in 1998, Arkel manufactures and sells complete control systems, integrated drive units and a broad range of electronic components for elevators. Focusing on the key markets of Türkiye, continental Europe and India, Arkel’s annual net sales are approximately EUR62 million (US$67.5 million). It has approximately 410 employees. Arkel CEO Cenk Ceylan said he is confident the deal will “benefit all customers and employees.”